What is Political economy? * No widespread agreement of what; but understood in three ways- those who see PE as an interaction of existing disciplines, those who see it as a set of questions, and those who see it as a method of analysis:

Interaction of existing disciplines: * Starting point is that as capitalism develops politics and econ becoming increasingly interdependent. * Not only interdependence of domestic pol and national econ but also international pol and global econ (4 disciplines) * Criticised by Marxists, because focuses on how the national state manages economic problems

Radical/Heterdox IPE (those who see it as a question);
* PE is an area of study, a set of questions, a series of assumptions- who has power? What’s the source of power? PE as a method:To understand society, you need to understand economics foundation, then you understand politics, ideas, and laws; “What is it about economic power that produces society”?Four approaches: * Political economics/and or politics of the economic policy-making (separate disciplines; influence of politics on the economy and of the economy on politics) * International political economy- Susan Strange (who gets what in the global context- politics, economics, security and social values) * Classical political economy- forerunner of modern social science (Smith WN 1776) * Critique of classical political economy- Karl Marx

Political economics:Strict separation between the disciplines of politics and economics: * Politics- the art and science of government * Econ- rational utility maximising behaviour in conditions of scarcity * Field of pol economics studies role of politicians in making econ policy and the effect of econ performance on the electability of government. * Main contribution – theory of political business cycle - in run up to election govts favour policies which enhance popularity with voters * Politics of economic policy making- “Policy is the action taken by government in pursuit of certain goals...many goals have an economic aspect. Economic policy is the economic aspect of overall government policy: it consists of deliberate government intervention in economic affairs in order to realise certain goals. * The common objectives include the objectives of a government (full employment, control of inflation etc)

* Foreign policy- PE of military spendingAssessing this approach * Useful in directing our attention to present day policy objectives and levers available to government * However, limited understanding of pol and econ and rather journalistic. * Does not offer a conceptualisation of pol econ merely a description of govt intervention in economic affairs * Concern with wealth and power of the state (modern day mercantilism)

IPE- Susan StrangeStrange played a central role in developing international political economy as a field of study in Britain. She claimed that in general, "economists simply do not understand how the global economy works" due to a poor understanding of power and an over-reliance on abstract economic models. However, she noted that political scientists also have a woeful understanding of international relations due to their emphasis on institutions and power. Thus she became one of the earliest campaigners advocating the necessity of studying both politics and economics for international relations scholars....

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...UNIT 6
POLITICAL
DEVELOPMENT
ECONOMY
OF
Structure
6.1
Introduction
6.2
The Global Divide
6.3
Poverty of Income Comparisons
6.4
Global Social Reality: Essentials of Maldevelopment
6.5
Agenda of the PoliticalEconomy of Development
6.6
Some Important Aspects of the PoliticalEconomy: Theories of Development
6.7
Capital Accumulation: Role and Limitations
6.8
International Capital Flows
6.9
Role of the State
6.10
The Counter Revolution in Development Economics: The LPG Package
6.11
Outline of the PoliticalEconomy Approach
6.12
Summary
6.13
Exercises
6.1
INTRODUCTION
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...research in this field. You should make reference to at least two recent or seminal pieces of research.
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...unless workers are convinced that there is NO intention of establishing piece work
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Traditional: workers work at what he thinks is best and w/o help from management = almost impossible for workers to work under rules
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Solution: only by adapting modern scientific management (task management)
Men now receiving 30-100% higher wages + output doubled
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...﻿
A Review Paper of International PoliticalEconomy
Of Michael Veseth
Syville S. Sebastian
BPS 4-1
Prof. Adam Ramilo
“International PoliticalEconomy (IPE) is the rapidly developing social science field of study that attempts to understand international and global problems using an eclectic interdisciplinary array of analytical tools and theoretical perspectives” -Michael Veseth. The domain of InternationalPoliticalEconomy is expanding beyond issues such as, international trade, international finance, North-South studies problems, as IPE shifts from the traditional concern of International politics to an even broader set of social, political and economic issues.
As a Political Science major in International Relations student, it is a must to study every aspect of politics whether it is locally or international in scope. We have studied about international politics, international relations, and now we’re taking up International PoliticalEconomy. International PoliticalEconomy is an interdisciplinary social science field of study that studies problems associated with international trade, international finance, multinational corporations, hegemony and globalization. It is the study of politicaleconomy in a lager scope, internationally speaking.
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...Mohammed Talukder
ILRS504
February 14, 2010
Wk5 Essay Assignment- Three Ideologies of PoliticalEconomy
Global power is understood to be both economic and political, which are interrelated in a complex manner. Thus the International PoliticalEconomy (IPE) has become a discipline within the social sciences that analyzes international relations in combination with politicaleconomy. IPE is considered flexible and contains epistemologies that are subject of robust debate. At the core of the debate are the three main philosophical ideologies (Realism, Liberalism and Marxism) which create conflicts revolving around the role and significance of the market in the organization of society and economic affairs. This paper will analyze these three philosophical ideologies and explain how the advocates of these ideologies would assess the phenomenon of global integration.
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...﻿Approaches to study of Politics
Falls under Political Science
We’re made to do the impossible
Summary
1 paragraph will do.
Provide the insight
-Data
-Theory used
-approach used
- use other references to prove your point
3 x 5
Surname all caps first name
email address
mobile number
On approach deals with different meaning of politics
Political Science
What is Politics & its scope ?
Banned words
Politics is dirt
Politics is nothing more than a means of rising in the world Samuel Johnson
Systematic organization of hatred Henry Adams
Art of governing mankind by deceiving them. Isaac D’Israeli
BASIS of POLITICS
Intellect and Will
Man Capable of Thinking
Politics as a rational activity
Man has the capacity to think and realize his wants, needs and interest which are potentially in conflict with others’ wants, needs, and interests.
Man cannot survive on its own. He needs someone else
Politics as a social activity
2 or more persons
Politics as a social activity
2 or more persons
Associate with society
Politics is concerned with social dynamics.
POLITICS AS THE ART OF GOVt
What concerns the state
Study of government and exercise of authority
Authoritative allocation of social values
Framework
Definition does not provide
David Easton
Authoritative binding to all
Allocation done by the government
Social Values anything held important by society...

...PoliticalEconomy
Our society is strongly influenced by all sources of media. The media shows us what is going on in the world news, fashion and much more. The media is our connection to the world and what goes on all around us. The politicaleconomy approach looks at the influence that ownership control, advertising and audience spending has over the mass media and the mediated messages we receive on a daily basis.
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There are three viewpoints on ownership control Kevin Williams discusses in Understanding Media Theory. First, Marxist politicaleconomy believes that there is a direct link between ownership and control. An owner determines who, what facts and what ideas the public actually sees.
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